Should You Sell Your Home Yourself?

January 19, 2016

Have you driven around on your hunt for a house and seen “For Sale by Owner” signs? What are the pros and cons of selling a home yourself? Let’s explore this idea.

Pros

1. You probably have a basic idea that a lot of the money you sell your home for goes towards paying your real estate agent. Why not keep this money? This is often why homeowners tackle the task of selling their home themselves.

2. Having complete control over the process of selling your home is also a draw for many. You can show the home, advertise the home, and maintain a schedule that works for you while still being flexible for potential buyers.

Cons

1. The lending process has changed dramatically within recent years. With the new laws and regulations, navigating the industry has grown confusing even for some of the most experienced professionals. Selling your home yourself can open a door to a situation you are not wholly prepared for if you have not been trained.

2. Many potential buyers are turned off by the fact that professionals will not be involved in the process through and through. Having a licensed professional guiding both parties can relieve a lot of stress.

3. The owner will be responsible for conducting their own market research and listing their home appropriately. While real estate agents are comfortable and knowledgeable on this crucial step, it could be a huge setback for those who are just winging it.

Talk to a professional before embarking on the adventure of selling your home yourself.